NEW YORK - Government services provider Maximus Inc . (NYSE:MMS) reported fourth-quarter earnings that fell short of analyst expectations and provided weaker-than-expected guidance for fiscal 2025, sending its shares down 3% in after-hours trading Wednesday.
The company posted adjusted earnings per share of $1.46 for the quarter ended September 30, missing the consensus estimate of $1.48. Revenue came in at $1.32 billion, slightly above analysts' expectations of $1.31 billion and up 4.4% YoY.
For fiscal 2025, Maximus forecasts earnings per share between $5.70 and $6.00, below the $6.13 analysts were expecting. The company projects revenue of $5.275 billion to $5.425 billion, compared to the consensus estimate of $5.297 billion.
"We are proud of the team for an excellent finish to a strong year, and one that demonstrates a healthy core business operating within our margin expectations," said Bruce Caswell, President and CEO of Maximus.
For the full fiscal year 2024, Maximus reported revenue of $5.31 billion, up 8.2% from $4.90 billion in the prior year. Adjusted diluted earnings per share were $6.11, compared to $3.83 in fiscal 2023.
The company's U.S. Federal Services segment saw revenue increase 13.9% to $2.74 billion for the full year, driven by volume growth in clinical programs. The U.S. Services segment revenue grew 5.5% to $1.91 billion.
Maximus ended the fiscal year with a backlog of $16.2 billion, down from $20.7 billion at the same point last year. The company's board declared a quarterly cash dividend of $0.30 per share.
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